In response to the financial crisis, 33 states and Puerto Rico passed at least 99 new laws in 2009 to address foreclosure and mortgage issues, according to a report published by the National Governors Association. With foreclosures at historically high levels, 67 of the laws provided foreclosure mitigation strategies. Another 15 laws took aim at neighborhood stabilization, and 12 laws addressed preventing bad loans.Read more

Ohio Attorney General Richard Cordray has filed a lawsuit against American Home Mortgage Servicing Inc. (AHMSI), a Texas-based company servicing more than 12,000 sub-prime and prime mortgage loans in Ohio. The lawsuit alleges numerous violations of the Ohio Consumer Sales Practices Act including but not limited to: Incompetent and inadequate customer service, failure to respond to requests for assistance, failure to offer timely or affordable loss mitigation options to borrowers and unfair and deceptive loan modification terms.Read more

Foreclosure.com Founder, President and CEO Brad Geisen, has announced that he has built the first-ever short sales offer management system that handles marketing, processing, negotiating and closing services all in one central location. QuickSale is an easy-to-use platform that simplifies an often long and complicated process, bringing together all parties--distressed homeowners, lenders, investors, buyers and agents--who all share one common interest: Moving real estate inventory as fast as possible under the best terms.Read more